Test Bank for Accounting Information Systems: Connecting Careers, Systems, and Analytics, 1st Edition 1e by Arline A. Savage, Danielle Brannock, Alicja Foksinska. Full Chapters test bank are included - Chapter 1 to 19 1 Accounting as Information 1.1 Why Is Accounting Information Important? 1-2 1.2 ...
A) minimally required public financial data. f f f f
B) the financial outcomes of operating, investing, and financing activities.
f f f f f f f f
C) the sales strategy for the operating, marketing, and sales activities.
f f f f f f f f f
D) black and white details about the economics of operating
f f f f f f f f
activities.Answer: B
f f f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Communication
f f f
Bloom's:
ComprehensionAICPA:
f f
AC: Reporting
f f
2) Accounting communicates the financial outcomes of a business's activities for
f f f f f f f f f
A) operating.
B) investing.
C) financing.
D) All of these answer choices are
f f f f f
correct.Answer: D
f f f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Communication
f f f
Bloom's:
ComprehensionAICPA:
f f
AC: Reporting
f f
3) In what way do management teams use accounting data?
f f f f f f f f
A) Management teams use accounting data to make business decisions. f f f f f f f f
B) Management teams use accounting data to make and execute plans. f f f f f f f f f
C) Management teams use economic and accounting data together to make decisions. f f f f f f f f f f
D) All of these answer choices are
f f f f f
correct.Answer: D
f f f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Comprehension f
AICPA: AC: Risk Assessment, Analysis, and Management
f f f f f f
1
,4) Which statement is TRUE? f f f
A) Accounting consists of rigid black and white rules. f f f f f f f
B) Accountants crunch numbers, not make decisions. f f f f f
C) Accounting helps support a prosperous society. f f f f f
D) Accountants focus on debits and credits, not business f f f f f f f
activities.Answer: C
f f f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's:
ComprehensionAICPA:
f f
N/A
f
5) Which of the following is NOT a component of an information system?
f f f f f f f f f f f
A) Hardware
B) Software
C) Input
D) Network f
Answer: C f
Diff: 1
f f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Knowledge f
AICPA: AC: Systems and Process Management
fff f f f f
6) Input to an information system consists of
f f f f f f
A) raw and unorganized data.
f f f
B) hardware and software. f f
C) reported information. f
D) processed data. f
Answer: A f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Knowledge f
AICPA: AC: Systems and Process Management
f f f f f
7) Which of the following is a definition of output from an information system?
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A) Output is raw and unorganized data. f f f f f
B) Output is information produced by processing data.
f f f f f f
C) Output is database facts and figures.f f f f f
D) Output is information collected from f f f f
2
,users.Answer: B
f f f
3
, Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Comprehension f
AICPA: AC: Systems and Process Management
f f f f f
8) Which statement concerning data is TRUE?
f f f f f
A) Data is useless to a business until transformed into information.
f f f f f f f f f
B) Data is the output from an information system.
f f f f f f f
C) Data is organized into understandable formats.
f f f f f
D) Data is processed before being input into the information
f f f f f f f f
system.Answer: A
f f f
Diff: 1 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Comprehension f
AICPA: AC: Systems and Process Management
f f f f f
9) Which of the following activities would NOT result in a transaction in an
f f f f f f f f f f f f
accountinginformation system?
f f f
A) Sell goods to a customer on account
f f f f f f
B) Purchase supplies on credit f f f
C) Prepay for six months of insurance f f f f f
D) Receive a customer f f
orderAnswer: D
f f f
Diff: 2 f
Learning Objective: 1.1 Explain how accounting affects both the demand for and supply
f f f f f f f f f f f f
ofinformation.
f f
Section Reference: Why is Accounting Information
f f f f f
Important?AACSB: Analytic
f f f
Bloom's: Application f
AICPA: AC: Systems and Process Management
f f f f f
4
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